Business

The latest business news in Nigeria, Africa and the world.

FIRS Makes N5tn In December, Eyes N5.3tn By Year End

The Federal Inland Revenue Service (FIRS) has said the agency has made N5tn in the second week of December 2018.
Lagos-Ibadan rail

FG Eyes Lagos-Benin-Warri-Onne Coastal Rail Line

The Minister of Transportation, Rotimi Amaechi, has said the Federal Government will construct a coastal rail line from Lagos, through Ijebu Ode, Ore and Benin City, to Onne Port in Rivers State.
FG Doles Out N5m To 500 Petty Traders In Jigawa

FG Doles Out N5m To 500 Petty Traders In Jigawa

The Federal Government has doled out N5 million as soft loans to petty traders in Jigawa State to boost their businesses. 
TCN Says Grid Expansion Meaningless Without Discos' Recapitalization

TCN Says Grid Expansion Meaningless Without Discos’ Recapitalization

The Transmission Company of Nigeria (TCN) has said that efforts to expand the national grid will be futile if distribution companies are are not recapitalised. 

FG To Inaugurate Nnamdi Azikiwe Airport Terminal Before Year End

The new terminal building of the Nnamdi Azikiwe International Airport will be inaugurated before the end of the year, according to the Federal Airports Authority of Nigeria (FAAN).

Nigeria’s GDP Growth Rate Rises To 1.81% In Third Quarter – NBS

The country's Gross Domestic Product (GDP) has revealed that the economy grews at a rate of 1.81 percent year-on-year for the third quarter.
FG Expresses Resolve To Providing Free WiFi At Economic Sites

FG Expresses Resolve To Provide Free WiFi At Economic Sites

Vice President Yemi Osinbajo has said the Federal Government is committed to providing free Wi-fi at economic sites in the country. 
NNPC

NNPC, Others To Erect Oil, Gas Research Facilities Nationwide

The Nigerian National Petroleum Corporation (NNPC) is finalising plans to build research facilities for the oil and gas sector across the country. 

Nigeria Customs Surpasses 2018 Revenue Benchmark, Makes N1trn

The Nigeria Customs Service (NCS) has said it made N1.1trn and seized contraband goods valued at N40bn between January and November, 2018.
Mining Development Council Urges FG To Finish Ajaokuta Steel Coy

House Of Reps. Asks FG To Reverse Ajaokuta Steel Privatisation

The House of Representative has asked the Federal Government to cancel the privatisation of the Ajaokuta Steel Company Limited.

Hoodlums Distort Trader Moni Scheme In Kwara State

Some suspected thugs on Thursday invaded the Mandate Market in Ilorin, the Kwara State capital and chased away Trader Moni agents. 
Finally, Buhari Agrees To Sign Petroleum Industry Governance Bill

Nigeria Starts N100b Sovereign Sukuk Bond Sales

The Federal Government has started the sale of its second tranche 7-year N100 billion Sovereign Sukuk, according to the Debt Management Office (DMO).

Kachikwu Speaks On Nigeria Cutting Down Oil Production

The Minister of State for Petroleum Resources, Ibe Kachikwu has said it will be difficult for Nigeria to cut down oil production. 

FSDH Says Falling Oil Price’ll Affect Macroeconomic Inflation

The FSDH Research has said that there would be macroeconomic instability on Nigeria’s economy if the price of crude oil continues to fall.
DPR Says Nigeria Has Lost Most Valued Oil Buyers

NAFDAC Bans Antibiotics In Animal Feed Production

The National Agency for Food and Drug Administration and Control (Nafdac) has banned the use of antibiotics in animal feed.

Nigeria Under Pressure To Join Oil Production Cut

The Organisation of Petroleum Exporting Countries (Opec) may pressurise Nigeria to cut cut down its oil production in an attempt to stem supply glut. 
NERC

115 Coys Aim To Cover 4.7m Metering Gap In Nigeria

The Nigerian Electricity Regulatory Commission (NERC) has said that 115 firms are seeking to close the metering gap of over 4.7 million customers. 
FG To Dole Out $700m To States For Public Finance Management

FG To Dole Out $700m To States For Public Finance Management

President Muhammadu Buhari has said that states will get $700m to improve the level of governance and public finance management.
Trans Forcados Pipeline

Nigeria Lost N244.8bn To Forcados Pipeline Breaches – NNPC

The Nigerian National Petroleum Corporation (NNPC) has said that over $800m (N244.8bn) had been lost to breaches in the Trans Forcados Pipeline in 2018.
Jigawa State Trader Moni

FG, Unity Bank Eye 35,000 With Trader Moni Scheme In Jigawa

The Federal Government is targeting 35,000 small and medium enterprises in Jigawa State with the Trader Moni Scheme in partnership with Unity Bank.
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